Hint: It’s not overall price.
Whether you’re looking to buy insurance for yourself or your business, or both, you shop around looking for the best deal. There are so many marketing campaigns out there to “help you” by saving money on important policies such as auto insurance, homeowner’s insurance, and various types of business insurance. But the lowest price does not equal the most valuable policy.
We’ve discussed before why to trust an independent agent over an offer in the mail. An independent agent is extremely important in finding the best insurance policy for your unique situation. The most important thing is that your insurance policy should almost never be exactly the same as the next guy’s policy. There are so many factors that go into figuring out premiums and what levels and types of coverage are absolutely necessary for a person. There’s so much to consider that the average insurance consumer won’t be able to wrap his or her head around it.
The best insurance policy is the one that gives you the right coverage for an affordable, reasonable price that gives you peace of mind. How do you ensure that you can get that sort of insurance policy? Find an independent insurance agent. Sure, there are discounts and bundling options available that can save you money. Remember that insurance companies charge you based on your actual risk of ever putting in a claim.
The less risky that you are to an insurance company, the easier and more affordable it is for you to purchase additional coverage. Some people are happy to just get the bare minimum of coverage just to get by. But as it turns out, at times, additional coverage is going to be only a small percentage more in your overall monthly payments.
Many states require bare minimums on various types of insurance coverage. While this might seem like these requirements force you into a corner, keep in mind that having insurance helps alleviate a lot of potential problems if a claim does have to be made later. You don’t want to be left without any coverage, even if you find yourself in a situation that isn’t even your fault.
So when shopping around for insurance, have a good conversation with your friendly local independent insurance agent. He or she will help you find out if the best deal on insurance is, in fact, more than you think. It is actually worth paying a few dollars more every month for additional coverages. What you want as a consumer isn’t just the lowest price. You want the most value for that price. That isn’t always the lowest price. But by just paying a little bit extra, you could save yourself countless dollars later.